Two South African brothers abscond with $3.6 billion of clients #bitcoin on their platform, Africrypt

Reports have it that a Cryptocurrency platform has disappeared with over $3.6billion of customers bitcoin investments according to Africa Story Live.

Two South African brothers namely Raees and Ameer abscoded and cant be found. They were able to vanish with $3.6 billion of clients investments.

The two south African brothers

According to Bloomberg, a Cape Town law firm hired to look into the case by investors revealed these brothers can’t be located as at now. The case was later reported to the Hawks, an elite unit of the national police force, where they’re looking into the matter.

There have been countless fraudulent cases since the inception of cryptocurrencies.

First sign of troubles of Africrypt started in April 2021 when bitcoin was on the high. One of the brothers, the elderly one, Ameer cajee told clients the company was the victim of a hack and had asked them not to report the incident to lawyers and appropriate authorities because it will down the recovery process of the missing funds, Bloomberg said

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